Frequently asked questions concerning Facebook and California's General Fund

Aug 1, 2012 - Because the state 's Facebook  estimates assumed little in the way of discretionary stock trading activity, it is possible (but not certain)  that elevated trading activity related to the  stock could help state tax revenues to some extent.  
https://lao.ca.gov/Recommendations/Details/618

LAO commentary on Facebook IPO and state revenue forecasts

May 15, 2012 - While Facebook’s recent editions of its form S-1 (its preliminary IPO prospectus) contain much helpful information for state revenue forecasters, they still lack many details. For example, the prospectus does not describe in detail the precise manner in which various transactions will (or will not) result in withholding obligations to federal and state tax agencies.
https://lao.ca.gov/Recommendations/Details/596

Summary of LAO Findings and Recommendations on the 2012-13 Budget

While Facebook’s recent editions of its form S-1 (its preliminary IPO prospectus) contain much helpful information for state revenue forecasters, they still lack many details. For example, the prospectus does not describe in detail the precise manner in which various transactions will (or will not) result in withholding obligations to federal and state tax agencies.
https://lao.ca.gov/laoapp/budgetlist/PublicSearch.aspx?PolicyAreaNum=70&KeyCol=596&Yr=2012

How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - The Nasdaq composite, which includes the California headquartered companies Nvidia, Google, Facebook, Apple, AMD, and Broadcom, has doubled since 2023. The meteoric rise in the value of these companies has led to sizable gains for their investors and their employees via stock options, which has led income tax collections to grow at double-digit rates.  
https://lao.ca.gov/LAOEconTax/Article/Detail/852

How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - The Nasdaq composite, which includes the California headquartered companies Nvidia, Google, Facebook, Apple, AMD, and Broadcom, has doubled since 2023. The meteoric rise in the value of these companies has led to sizable gains for their investors and their employees via stock options, which has led income tax collections to grow at double-digit rates.  
https://lao.ca.gov/LAOEconTax/article/Detail/852

The 2021-22 Budget: Trial Court Operations Proposals

Feb 11, 2021 - It was also used to allow more individuals to be served in certain case types (such as eviction and other civil case types) and to provide services in new or expanded ways (such as adding workshops, increasing use of document assembly programs, and expanding remote access to services).
https://lao.ca.gov/Publications/Report/4362

^[PDF] The 2006-07 Budget: Perspectives and Issues

The system of sharing resources helps minimize the need for each jurisdiction to purchase specialized equipment and hire staff for “worst case” scenarios. In addition, since the state often experiences emergencies, it has a lot of practice in implementing incident commands and administering SEMS.
https://lao.ca.gov/analysis_2006/2006_pandi/pandi_06.pdf

Background information on LAO's May 2012 economic and revenue forecasts

May 18, 2012 - Figure 6 compares the LAO May 2012 revenue estimate related to the Facebook IPO with those in other recent forecasts. The IPO was announced in February and thus was not included in the Governor ’s January 2012 forecast. ( Additional information on our May 2012 Facebook IPO revenue forecast was published on this website on May 15.)
https://lao.ca.gov/Recommendations/Details/599

Addressing Chronic Vacancies in Prison Mental Health Care

Feb 23, 2026 - Those departments may seek increases in compensation to ensure their pay remains competitive with CDCR —potentially adding still more costs to the state. Extending Licensing Exemptions to Out‑of‑State Licensed Providers State Licensing Policies Limit Pool of Potential Providers.
https://lao.ca.gov/Publications/Report/5134

^[PDF] The 1983-84 Budget: Perspectives and Issues

Pr.slden' pro Tempore Speaker 01 the Au.m/Jly 01 the Sem,t. Members of the Committee SENATORS ASSEMBLYMEN Weller W. Sliern, C~.,,,.,." Richard Roblnlon, Vice CIl",m." Allred E. Alqulll Art AIlRO. Robert G.
https://lao.ca.gov/analysis/1983/pandi_83_intro.pdf